The Victorian government is banking on a $1.5 billion traffic fines bonanza to top up its bottom line by the 2009-10 financial year, a secret report shows.

The cabinet report, revealed in the Herald Sun, shows the government plans to collect $1.3 billion through Victoria’s 2000-plus speed cameras and $200 million in on-the-spot fines by 2009-10.

The assessment, prepared by VicRoads, does not count the expected $125 million-a-year windfall from the EastLink toll road, which has not yet opened.

Opposition Leader Ted Baillieu said the document was showed the government is addicted to traffic fines.

“The forecast revenue in this document is more than five times the promised tax relief in this week’s state budget, showing John Brumby is more interested in gouging drivers with fines than lifting the tax burden on Victorians,” he said.

Forecasts for traffic camera revenue for the next four years were not released in the budget, but released a total fine figure for next financial year of $500 million, the Herald Sun said.

The government on Thursday refused to release the latest forecasts for the next four financial years.

A government spokesman said all speed camera fines went to the Better Roads Victoria Trust.

“It is our hope camera fines decrease due to people slowing down, which could save Victoria part of the estimated $3.5 billion a year road trauma costs,” the spokesman said.

Motorist groups claim this is not the case. During EVERY festive season motorists are warned to fill up their tanks before the break, by the general media. The fixing of petrol prices has always been inflated over the norm during these periods. YET, the ACCC still blatantly LIES to the general public, that the prices are not inflated.

As quoted from the article ” He said the rapid drop in prices over Easter after the spike was also usual practice.” Why is this considered as normal?

The truth of the matter is that the Petro-Chemical industry is owned by a few people and controlled by a select group of individuals.

There is NOTHING a little ACCC, in a negligible economy like Australia, can do to the benefit of the Australian motorist.

The Australian Government surcharges a 60% tax on fuel.

The USA currently has approximately 5% of the World’s population, but consumes approximately 25% of the oil reserves.

Slater and Gordon is one of Australia’s most well know law firms that touts its reputation for giving compensation to the disadvantaged individual who has been wronged by Corporate Goliaths.

IBM GSA is a joint venture between IBM, Telstra and Lend Lease. IBM GSA as a general rule, contracts its workers through its Tier Level 1 suppliers. Some Recruitment agencies that specialise in IT Recruitment are Candle ICT, Ambit and Paxus.

It was noticed, that a portion of monies was unaccounted for. This equated to a figure of 6.66%. This person then queried their manager. The manager was quite aware of this procedure, and proceeded to explain in confidence that this figure was evenly divided between IBMGSA and the agency, when the figure (the worker’s salary) should be retained by the worker. The manager then proceeded to explain that if this was to be made public, the worker’s employment would then be terminated, and they would never again have employment.

This procedure was documented, and presented to Slater and Gordon. Slater and Gordon then replied, that it is a matter the their department would look into as it falls into the category of Corporate Fraud. The individual then suggested that a Class Action Law Suite be initiated against IBM GSA and the relevant Recruitment Agencies.

The response Slater and Gordon gave was that :

it was too busy to pursue the matter,

it does not have the resources, and it would be too costly for them, therefore

the individual, under their own finances would have to pursue the matter.

If it’s too costly for a large law firm, how costly is it to an individual?

Since it has been established that the fraudulent amount is 6.66% of a contractors salary, then if we assume (for easy accounting) an average salary of $100,000 p.a. an approximate 2,500 workers, then $16,500,000.00 per annum are being fraudulently obtained by IBM GSA and their agencies at the expense of the worker. Over a 10 year period the figure is

165 Million Dollars.

A case that Slater and Gordon did not want to handle.

If an individual defrauded 1/100th of the above mentioned amount, then they would be prosecuted to the full extent of the law.

UPDATE: October 18, 2005. Despite being still under investigation by the Victorian authorities and despite warnings being issued by the Australian Consumers’ Association, the Victorian Government and the Real Estate Consumers’ Association (Hall of Shame), spruiker George Mihos is still spruiking. He’s reportedly resurfacing tonight in Hawthorn.

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Spruiker George Mihos claims to have taught thousands of Australians how to become millionaires.

So you’d think he’d be able to find just one person to write a testimonial for him.

There must be someone so besotted by the rhetoric that they’d be willing to write him a genuine reference.

But no, Mihos is so short of admirers he has to get his staff to write testimonials for him.

Anyone on the Mihos mailing list would have received a recent email with a headline which screamed: “How to Create New Multiple Streams of Income And Ensure a Lifetime of Financial Abundance!”

Featured prominently in the material was a “testimonial” from one Pat Sciarrone whose life changed when he discovered Mihos’ Today Not Tomorrow Institute. Within three months he had increased his passive income by $6000 a month!

Pat left out one piece of information. He’s a staff member at the Today Not Tomorrow Institute (TNTI).

You can call the “institute” and they’ll put you through to Pat who will “highly recommend” that you go along and “evaluate the program”.

Evaluating the program, Pat will explain, means attending the three-day seminar. You pay $795 and you have two and a half days to “evaluate”. According to Pat, if you don’t like what you hear, you can get a full refund. If you do like what you hear, you fork out an extra sum (up to $8,000, depending on which support package you choose).

You see, explains Pat, there’s a money-back guarantee. “You pay $795 to go along and evaluate the program but there’s a 100 percent satisfaction guarantee. If you can’t see the value, you get a refund. If you’re satisfied you take a package; if you’re not satisfied you walk away.”

There’s just one snag. It’s not true. George’s “satisfaction guarantee” is as big a sham as Pat’s testimonial.

When people turn up at a Mihos seminar, they have to sign a registration form. On the back, in the small print, is a clause which traps the signatory. If they express satisfaction at any time over the next two and a half days, they are obligated to buy a 12-month package costing anywhere from $3,000 to $8,000. To ensure that happens, George’s staff, including Pat, hand participants evaluation forms to fill out several times a day. If you tick any box which indicates even the mildest satisfaction with anything, you’re obliged to buy a 12-month package. You can’t get a refund and leave – and if you try, you’ll come under heavy, aggressive pressure.

Even those who manage to negotiate that minefield don’t get the 100 percent guaranteed refund that’s promised. They will get only half their money back because, also in the small print, is mention of a fee to cover the George Mihos costs in organising the seminar and providing catering.

So be careful what you believe with Mr Mihos and TNTI.

From the sham testimonial to the sham guarantee, this mob is one big sham.

jenman.com.au 18 Oct 2005

The government does not act quickly enough to close this trash down. If it were their money that was at stake, closeure would be immediate!

The Australian Competition and Consumer Commission has instituted legal proceedings against Mr Henry Kaye and National Investment Institute Pty Ltd alleging misleading and deceptive conduct over the promotion of a “millionaires” property investment strategy.

Superannuation is a compulsory part of an employees salary package. Some schemes are better than others, but a usually accepted figure is 9% per annum. This figure is required to be put aside by the employer on an ongoing basis, every predefined period into the employees superannuation fund / account. The failure comply is punishable by law, as there are no excuses, as every business owner is aware of this fact.

A recent case come to mind, that one of a professional service, a Chiropractor’s clinic in Melbourne’s Collins St, failed to contribute to an employees super fund. The employee was not aware of this fact, and upon their departure, this was made evident.

The holding on to the super fund by the employer is illegal.

Funds held by the employer could be used to gain profit, e.g. in the stock market.

The employer was subsequently fined, and all interest paid back to the employee.

Westpac Banking Corporation Ltd says it intends to increase “offshoring”, but denied media reports that it planned to shift up to 3,000 back-office jobs to India.

“I haven’t seen any piece of paper with that kind of number,” Westpac chief executive Gail Kelly told analysts on Thursday.

But Mrs Kelly said the bank would be keen to outsource functions if there was another business that could perform a function more efficiently.

“Will there be an increase in offshoring? Absolutely,” she said.

Meanwhile, the Finance Sector Union (FSU) wants the federal government to review all bank licensing arrangements to ensure back office jobs stay in Australia.

The union’s call follows a report that Westpac – which on Thursday announced a 34.2 per cent jump profit for the six months to March 31 to $2.202 billion – is expected to shift the work of up to 3,000 of its back-room staff to overseas locations such as India during the next three years.

The move was part of an accelerated plan to cut costs being put together for new Westpac chief executive Gail Kelly, Fairfax reported.

FSU secretary Leon Carter said the bank’s move would hollow out the Australian finance industry, leaving a nation of bank shopfronts.

“Back office workers are the backbone the Australian’s major banks performing hundreds of important task such as handling customers’ sensitive banking information,” Mr Carter said in a statement.

“Swiping out more than 3,000 of these jobs will mean that only the facade of an Australian bank would be left behind.”

Westpac was carving up its business and its local employees were being treated as “offcuts”.

“We know that working families are coming under fire by the banks with successive interest rate hikes, huge fees, and now they are going to take away thousands of Australian jobs,” Mr Carter said.

“Banks like Westpac owe their customers and their community much more than this.”

“What’s needed now is for the federal government to take this opportunity to rein in the banks and protect bank jobs from being sent offshore.

Mrs Kelly needed to reassure customers and workers that jobs would not be sent offshore, Mr Carter said.

FAILED finance company boss Graeme Hoy broke his silence last night after being in hiding since the $70 million collapse of Chartwell Enterprises.

The man, who had not been seen since last Monday night when he allegedly fled through the back door of the Geelong company’s offices, denied channeling millions of dollars overseas before the firm collapsed.

“I am absolutely devastated at the impact of these events on so many wonderful people,” Mr Hoy said.

But he was unable to answer the key question of where the money in his collapsed firm had gone.

“Well, the investigation will disclose everything about the money,” he told Channel 9.

He could not say how much the hundreds of investors could hope for.

Asked if people would get any back, Mr Hoy said: “I think that’s Mr (administrator Bruno) Secatore’s position to be disclosing.

“Can I say absolutely – because I know I won’t be contradicted by the discoveries – that no money went offshore.

“This is absolutely the hardest thing that I’ve ever had to face in my life.”

Mr Hoy said he would not go back to Geelong.

“Not at the moment. I’ve had threats of physical violence and worse, and I’ve had to take protective measures,” he said.

Mr Hoy said he believed he had not acted illegally.

“It’s quite possible (there could be criminal or civil charges) but I’m ready for whatever life throws at me,” he said.

Mr Hoy said the most difficult part of the collapse was that many investors were friends.

“(I’m) completely hollowed out,” he said.

Mr Hoy said he came forward out of a willingness to be accountable, despite living in fear after receiving death threats.